Issue 2, 2016

Drozdova N. P. Russian Artel as an Organizational Form of Production in the Nineteenth and Early Twentieth Centuries: A Neo-Institutional Approach.

Artels, some kind of semi-formal association for co-operative labor, were widely spread in Russia right up till early twentieth century. There are different explanations of this phenomenon. Using the New Institutional Economics approach the paper reveals that artels as an organizational form of production that existed mainly due to rather effective solving adverse selection and moral hazard problems. Keywords: artel, New Institutional Economics, team production, adverse selection, moral hazard, agency costs.

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